Design Therapeutics (NASDAQ:DSGN) Stock Price Down 6.7% – Should You Sell?

Design Therapeutics, Inc. (NASDAQ:DSGN)’s share price was down 6.7% during mid-day trading on Tuesday . The company traded as low as $12.66 and last traded at $12.6120. 367,819 shares were traded during mid-day trading, a decline of 37% from the average session volume of 586,405 shares. The stock had previously closed at $13.52.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Design Therapeutics in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Design Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Design Therapeutics Trading Down 8.2%

The firm has a market capitalization of $776.33 million, a P/E ratio of -10.51 and a beta of 1.66. The business’s 50 day simple moving average is $14.09 and its two-hundred day simple moving average is $12.72.

Design Therapeutics (NASDAQ:DSGN) last issued its earnings results on Monday, August 3rd. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. Analysts predict that Design Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.

Institutional Trading of Design Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Design Therapeutics during the 2nd quarter worth approximately $38,491,000. Baker BROS. Advisors LP boosted its position in shares of Design Therapeutics by 30.4% in the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock worth $20,946,000 after purchasing an additional 520,217 shares during the period. Trails Edge Capital Partners LP bought a new position in shares of Design Therapeutics in the second quarter worth approximately $28,958,550. Frazier Life Sciences Management L.P. purchased a new stake in shares of Design Therapeutics in the second quarter worth $26,189,000. Finally, Almitas Capital LLC purchased a new stake in shares of Design Therapeutics in the second quarter worth $14,859,000. Hedge funds and other institutional investors own 56.64% of the company’s stock.

About Design Therapeutics

Design Therapeutics, Inc is a clinical-stage biotechnology company developing small-molecule medicines for genetic diseases. The company’s research platform, known as GeneTACs (Gene Targeted Chimeras), is designed to reactivate genes that have been silenced or disrupted by pathogenic genetic changes.

Design Therapeutics’ lead programs have focused on diseases associated with nucleotide repeat expansions. Its pipeline has included DT-216, an investigational therapy intended to restore production of the frataxin protein in patients with Friedreich’s ataxia, a rare inherited neurological disorder.